This ambition was announced by DPM Lawrence Wong at the inaugural three day Singapore Conference on AI ending on Dec 6. Photo: Nicole Lim

Singapore is acutely aware that every leading city in the world wants to be an artificial intelligence (AI) hub, and it cannot compete head-on in terms of size or fiscal resources, says deputy prime minister Lawrence Wong.

But the city-state has plans to grow its AI talents — which include tripling the number of data, machine learning scientists, and engineers to 15,000; and training locals and welcoming foreign professionals with the skill sets to complement the local workforce.

Wong spoke at the first Singapore Conference on AI (SCAI) on Dec 4, in front of an audience of industry partners, academics and government officials. The three day conference is part of the launch of the second National AI Strategy, or NAIS 2.0, an update from the first strategy launched in 2019.

NAIS 2.0 underscores Singapore’s position on artificial intelligence, following the boom of generative AI in the past year. The NAIS 2.0 is the result of consultations with over 300 experts and organisations, both domestic and international, according to Wong.

The global financial hub’s stance on AI has now shifted to it being an “indispensable” technology, which can benefit sectors such as manufacturing, financial services, healthcare, education and public service.

Noting the potential risks of AI, Wong says that it is “tempting” to swing to the other extreme and impose strict regulations now. However, he says that the approach is not ideal. Instead, Singapore’s mandate is to find a “pragmatic balance”.

“We want to encourage experimentation and innovation, we will create regulatory sandboxes for such innovation to flourish in Singapore, and we’ll put in place the necessary guard rails so that innovation and experimentation does not cause systemic risks,” Wong says.

Instead, Singapore’s place in the global AI boom is to be a “pace-setter”, through 15 action points outlined in the NAIS 2.0. Meanwhile, SCAI brings together 40 industry, academic and government experts who will produce a set of questions around the development and deployment of AI.

“We hope to inspire global talent and focus attention on tackling these critical questions of AI,” a release by the Ministry of Communications and Information of Singapore notes.